Buyers Agent vs. Sellers Agent

Basically, a listing agent represents the seller and the buyer’s agent
represents the buyer. However, any real estate agent can serve in either role
depending on the client’s needs, or he can serve in both roles under
dual
agency. Many agents specialize in working with sellers or working with buyers
and there may be some benefit to that, particularly if you need the agent to
run the whole show for you because you won’t be present during the buying
or selling or you are purchasing the property sight unseen.

When an agent is acting as a
listing agent, she generally has the following
duties:

Assist in valuing and properly pricing the property for sale.
To sell your property for the highest price in the shortest time with the
least inconvenience, you must accurately and competitively price your home.
These two things don’t always align, so it is important to have an agent who
understands how to strike the proper balance and sell your home for a price
you want.

Suggest any necessary repairs and improvements. When the
market is good, buyers are particular because there are so many houses on
the market. When the market is bad, buyers are particular because there are
so few houses on the market. Either way, buyers are particular which means
that every detail counts in the sale of your home. Listing agents will tell
you which details are most important and worthwhile, so you don’t go upgrading
your kitchen countertops to granite when everyone has moved on to concrete
or painting your shutters when they really need replacing.

Market your property. Sure, the listing agent will do
things like put a for sale sign up in your yard and host open houses, but
the most fruitful type of marketing a listing agent does is to other agents

to buyers' agents. This happens through placing an MLS listing (which generally
only real estate agents can do) and networking with other agents.

Present and negotiate offers on your behalf. A listing
agent sorts out the difference between low-ball offers and genuine compromise
offers, and she will tell you whether the market will allow you to wait around
for the offer you really want. As well, the agent will help you understand
the legal details of the offer and what things need to be done to complete
the transaction should you accept the offer.

Follow through on the contract contingencies until the sale closes.
When parties enter into a sales agreement, there are certain things the buyer
must do and certain things the seller must do before escrow closes and the
sale is complete. A listing agent makes sure those things are done so that
the buyer has no reason to back out of the contract or, worse yet, sue.

A
buyers' agent generally has the following duties:

Assist in finding properties. A buyers' agent searches
for homes that meet your criteria and shows them to you. As well, the agent
gets access to houses that you find on your own. Often, through his contacts,
the agent is able to show you houses that aren’t listed in the newspaper or
on websites or houses that are a good deal for some undisclosed reason or
another.

Assist in determining which property is best for you.
A buyer’s agent will research the history of each property and point out those
things that could present a problem. An agent should also be able to spot
problems when she shows you each house such as explaining whether an addition
adds or detracts value or whether the property will be noisy at night.

Make and negotiate offers on your behalf. A buyer’s agent
will help you make an offer that’s fair, not too generous or insulting. He
will tell you whether a carport is really worth an extra couple thousand dollars
or whether you should push for the pool to be serviced before you move in.

Follow through on the contract contingencies until the sale closes.
Just like the listing agent, the buyer’s agent makes sure that all contingencies
are met and the deal closes.

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